Stocks climbed higher Wednesday, building on the previous session's gains, as investor optimism around artificial intelligence and Netflix (NFLX  ) earnings pushed the broader market higher. The Dow Jones Industrial Average added over 100 points, while the S&P 500 Index and Nasdaq Composite advanced 0.6% and 1.3%.

Here's how the market settled on Wednesday:

S&P 500 Index (SPY  ): +0.61% or +37.13 points to 6,086.37

Dow Jones Industrial Average (DIA  ): +0.30% or +130.92 points to 44,156.73

Nasdaq Composite Index (QQQ  ): +1.28% or +252.56 points to 20,0009.34

President Donald Trump announced a joint venture late Tuesday with OpenAI, Oracle (ORCL  ) and Softbank (SFTBY  ) to invest up to $500 billion over the next four years to build artificial intelligence infrastructure across the United States. The project, named Stargate, will begin with an initial $100 billion investment to construct data centers in Texas.

"These world-leading technology giants are announcing the formation of Stargate. So, put that name down in your books, because I think you're going to hear a lot about it in the future," Trump told reporters during a press briefing at the White House. "A new American company that will invest $500 billion, at least, in AI infrastructure in the United States."

Investors also seemed unphased after Trump said separately that his administration is considering a 10% tariff on China to start as soon as Feb. 1.

"We're talking about a tariff of 10% on China based on the fact that they're sending fentanyl to Mexico and Canada," Trump said, referring to the addictive synthetic opiod that has led to thousands of U.S. overdose deaths each year.

On the Earnings Front:

Netflix shares jumped nearly 10% higher on Wednesday after the streaming giant posted strong fourth-quarter earnings results, notably surpassing 300 million paid memberships. The company said that when including "extra member accounts," its global audience is estimated to exceed 700 million.

"We really have built the business on variety and quality across countries, across regions, across genres and really focused year-round on having a very strong slate of programming for our members," CEO Ted Sarandos told investors during the company's earnings call.

For its full year 2025 outlook, Netflix raised its revenue expectations to a new range of $43.5 billion to $44.5 billion, about $500 million higher than its previous forecast. The company said it plants to improve its core business this year with more series and films and continue to grow its ads business.

Moreover, Netflix said it would raise prices on some of its streaming tiers between $1 and $2 per month.

United Airlines (UAL  ) also reported better-than-expected fourth-quarter earnings late Tuesday, benefiting from strong demand for pricier tickets like business class and international travel as well as its popular loyalty program. The airline's first-quarter outlook also topped analyst estimates, with United expecting adjusted earnings per share between $0.75 and $1.25 in the first three months of the year.

For its full year 2025, United expects adjusted earnings to range between $11.50 to $13.50, mostly in-line with analyst estimates.

Johnson & Johnson (JNJ  ) reported mixed fourth-quarter earnings that mostly topped expectations, with its positive results being somewhat clouded by slowing COVID vaccine sales and its ongoing talc lawsuit, which is set to begin hearings next month. The pharmaceutical giant expects full-year adjusted earnings between $10.50 and $10.70, coming mostly in-line with estimates.

Procter & Gamble (PG  ) reported better-than-expected fiscal second-quarter earnings on Wednesday, as the consumer products giant benefited from increased sales in the U.S. and China -- its largest markets. The company's organic revenue increased by 3% during the quarter, while organic sales in Greater China slipped 3%, compared with the previous quarter's 15% decline.

"I want to be clear: I don't think China is out of the woods," CFO Andre Schulten told analysts during the company's earnings call. "But it's good to see the trend going more positive."

Procter & Gamble also reiterated its fiscal 2025 forecast, calling for core net earnings per share in a range of $6.91 to $7.05 with revenue growth between 2% and 4%.